Blue Oar founder Edward Vandyk appointed chief executive

Evolve Capital moved towards taking full control of Blue Oar Securities yesterday when Edward Vandyk was named chief executive of the stockbroker with immediate effect.

Dr Vandyk, a co-founder and former chief executive of Blue Oar, is an executive director of Evolve, the investment group that snapped up a 64.9 per cent stake in Blue Oar during a bitterly contested takeover battle just before Christmas.

At the time, Dr Vandyk, who owns 7.7 per cent of Evolve, insisted that the investment group would not become involved in the day-to-day running of Blue Oar, promising to have an arm’s-length relationship. Now, however, he is expected to press ahead with his earlier plans for the company, which involved closing its broking unit and changing its name to…

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